THE Port of Hamburg posted a 5.1 per cent year-on-year container decline in 2022 to 8.3 million TEU, after throughput plummeted 12 per cent in final quarter.
Volumes at the three major North European container hubs of Rotterdam, Antwerp-Bruges and Hamburg continue to fall significantly year on year as consumer demand softens and retailers wrestle with stubbornly high inventories.
Posting its 2022 results yesterday, Port of Hamburg marketing CEO Axel Mattern said: "With Christmas in the final quarter, we should normally see a rise in throughput, but that failed to happen last year."
Over the year, container imports fell 6.1 per cent year on year, to 4.2 million TEU, while exports declined 4.1 per cent to 4.1 million TEU.
Mr Mattern attributed the import decline, particularly in Q4, to autumn's high level of inflation, "which caused consumer spending to fall to a low point". The resulting high inventory stocks caused importers to postpone or cancel orders from Asia, forcing carriers to blank sailings.
Slowdowns by dockers in July and August resulted in several vessel diversions from Hamburg, so to keep the throughput decline on a par with its Benelux hub rivals - volumes at Antwerp-Bruges fell 5.2 per cent to 13.5 ?million TEU - was an achievement, said Mr Mattern.
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